Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

Indian share markets open weak
Fri, 18 Jul 09:30 am

Barring China (up 0.4%) and Indonesia (up 0.1%), all major Asian stock markets have opened the day on a weak note with stock markets in Japan (down 1%) and Hong Kong (down 0.5%) leading the losses. The Indian share markets have also opened the day on a negative note. Barring IT and consumer durables, most sectoral indices have opened in the red with stocks in the realty and power space leading the losses.

The Sensex today is down by around 111 points (0.4%), while the NSE-Nifty is down by about 43 points (0.6%). Mid and small cap stocks have also opened in the red with the BSE Mid Cap and BSE Small Cap indices down by around 1% and 0.8% respectively. The rupee is currently trading at Rs 60.14 to the US dollar.

IT stocks have opened the day on a firm note with Tata Consultancy Services (TCS), Wipro and HCL Infosystems leading the gains. Leading Indian software services exporter TCS has announced its financial results for the quarter ended June 2014 (1QFY15). During the quarter, the company's consolidated revenue stood at Rs 221,110.3 m, higher by 2.6% on a quarter-on-quarter basis. The operating profit was lower by 5% QoQ on account of higher expenditure. Operating profit margin declined from 31% in 4QFY14 to 28.7% in 1QFY15. At the bottomline level, consolidated net profit increased by 3.9% QoQ to Rs 55,676.8 m. Net profit margin improved marginally from 24.9% in 4QFY14 to 25.2% in 1QFY15. The company's board of directors has declared an interim dividend of Rs 45 per equity share of Rs 1 each. This includes a special dividend of Rs 40 per equity share. The interim dividend will be paid to the shareholders on August 08, 2014.

Auto ancillary stocks have opened the day on a mixed note with Rico Auto and NRB Bearings leading the gains. However, Carborundum Universal and Exide Industries are trading in the red. As per a leading financial daily, the auto components sector witnessed its first ever decline in turnover in the financial year 2013-14 (FY14). The main reasons for this decline are said to be the increasing pressure of Chinese imports and tough conditions in the domestic automobile sector. The auto components sector reported a turnover of Rs 2.1 trillion, lower by 2% year-on-year (YoY). However, as per industry body Automotive Component Manufacturers Association of India (ACMA), the auto components industry is expected to post up to 6% YoY growth in the current fiscal year 2014-15 (FY15).

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian share markets open weak". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.